StockNews.com Downgrades Apple Hospitality REIT (NYSE:APLE) to Sell

Apple Hospitality REIT (NYSE:APLE) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

APLE has been the topic of a number of other research reports. Wells Fargo & Company cut their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Apple Hospitality REIT currently has an average rating of “Hold” and a consensus price target of $16.50.

Apple Hospitality REIT Trading Down 0.1 %

APLE stock opened at $15.89 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market capitalization of $3.81 billion, a PE ratio of 18.69 and a beta of 1.11. The firm’s 50-day moving average is $14.94 and its 200 day moving average is $14.65. Apple Hospitality REIT has a 12 month low of $13.60 and a 12 month high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The business had revenue of $378.84 million for the quarter, compared to analysts’ expectations of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same period last year, the business posted $0.45 EPS. On average, research analysts anticipate that Apple Hospitality REIT will post 1.6 EPS for the current year.

Hedge Funds Weigh In On Apple Hospitality REIT

Several large investors have recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in Apple Hospitality REIT in the 2nd quarter worth $26,000. Quarry LP increased its holdings in Apple Hospitality REIT by 127.5% in the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,290 shares in the last quarter. GAMMA Investing LLC increased its holdings in Apple Hospitality REIT by 40.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 780 shares in the last quarter. Covestor Ltd increased its holdings in Apple Hospitality REIT by 115.6% in the 1st quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 2,313 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in shares of Apple Hospitality REIT by 4,406.5% during the second quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 5,420 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.